4 year bonus

strong96

Just a quick one, my husband was entitled to sign for his bonus a year ago but decided not to as he thought that if he left it when he does finally leave the army that will be included in his lump sum or would then get it tax free, i'm sure he was told wrong so is it best he finally goes and signs for it now rather than defer it

mrsfarnie

I would go for it! Have a nice holiday! I went to Jamaica with mine, my husband and me went to Antigua with his and his sister stupidly bought a horse with hers!!

Sparky29

strong96 wrote: »

Just a quick one, my husband was entitled to sign for his bonus a year ago but decided not to as he thought that if he left it when he does finally leave the army that will be included in his lump sum or would then get it tax free, i'm sure he was told wrong so is it best he finally goes and signs for it now rather than defer it

As far as I know these are retention incentives because so many young lads think the grass is going to be greener and get out after four years and they have nothing to do with other lump sum payments or pension.

strong96

so i got to tell him to go sign for it even though he was entitled to it last april, oh well better late than never

Geezer_BJ

I don't know if the army have the same rules, but the RAF have changed their retention bonuses. Now, the longer you leave it before you claim, the more you get. Not 100% on the exact figures but I believe if you leave it 8 years, its around £15k.
Worth asking the scribblies anyway !

strong96

hmmm interesting, not sure anyone on our camp is intelligent to know though

Bluebird24

There isn't any mention of it going up with time on the website, and I presume they'd make it be known if it means it actually achieves its aim and retains soldiers for longer.

http://www.army.mod.uk/join/terms/1135.aspx#Financial_Retention_Incentives

gt568

Geezer_BJ wrote: »

I don't know if the army have the same rules, but the RAF have changed their retention bonuses. Now, the longer you leave it before you claim, the more you get. Not 100% on the exact figures but I believe if you leave it 8 years, its around £15k.
Worth asking the scribblies anyway !

I thought that was only coming in from Apr 09?

Geezer_BJ

could well be .. I didn't pay a huge amount of attention to the details as it doesn't really affect me.
worth more investigation though if you may be entitled

strong96

signed for the 4 yr bonus yesterdayand clerk said there was another bonus of 2.5k entitled to sign for so wow was a good thing i went in. now its signed for how long roughly will it take to go to bank?

Geezer_BJ

why didn't you ask the clerk when you signed ? !!!